OctaFX | OctaFX Forex Broker
Open trading account

Crude Oil Futures: Further consolidation not ruled out

Traders scaled back their open interest positions for the second day in a row on Thursday, this time by almost 1.5K contracts according to preliminary data from CME Group. Volume followed suit and extended the downtrend for the third straight session, now by nearly 73.5K contracts.

WTI: Potential near-term bottom?

Prices of the barrel of WTI appear to have carved a short-term base in the $49.30 region (February 4th). The recovery, however, stalled in the $52.00 region so far. Declining open interest and volume coupled with inconclusive price action opens the door for some consolidative mood in the short-term at least.

WTI: Recovery remains capped below $51.50 ahead US data

WTI (oil futures on NYMEX) extends its consolidation phase, following a recovery from a 13-month low of $49.47, into a second straight day on Friday,
Read more Previous

USD/JPY: rangebound likely between 108.30-110.30 – UOB

FX Strategists at UOB Group noted USD/JPY could trade within the 108.30-110.30 range during the next weeks. Key Quotes 24-hour view: “Were of the view
Read more Next
Start livechat